The main index fell more than 1 percent on Monday, but was up for three succeeding days before giving up points at the end of the week.
Top losers, meanwhile, were I-Remit Inc., Ferronoux Holdings Inc., PLDT Inc., Vivant Corp., NiHAO Mineral Resource Internationak Inc., Oriental Petroleum and Minerals Corp. A and Phoenix Petroleum Philippines Inc.Share prices may retest the 6,600 to 6,800 points during the last trading week of the year.
“On the private side, the market will reward those who will be able to maintain their capex [capital expenditures] and dividend matrix, in the face of possibly lower free cash flow from higher debt service,” the broker said.Broker Regina Capital Development Corp. placed a buy on pullbacks on the stock of Axelum Resources Corp. after the company was able to bank P717.28 million in net income in the nine months of the year, supported by its strong topline.